Policy Documents

Detroit’s Bankruptcy Ruling Doesn’t Spare the Pensions

Scott Shackford –
December 10, 2013

In this post the author asserts that pensioners will not fair too well potentially:

Rhodes, in his ruling, declared that as far as federal bankruptcy proceedings are concerned, pensions should be treated like any other contract. They don’t get any additional “special protection” from cuts or renegotiations due to bankruptcy restructuring than any other contract or debt incurred by a city.